UN Warns Against Strait of Hormuz Shipping Tolls

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Published: 2 hours ago

The UN's shipping agency cautioned Thursday that imposing tolls on vessels transiting the Strait of Hormuz would establish a dangerous precedent for global maritime trade. The strait handles approximately 20% of global oil shipments daily. Oil-linked currencies including CAD, NOK, and RUB could face volatility if shipping costs increase through this critical chokepoint. Energy price fluctuations would particularly impact petro-currencies and safe-haven flows to USD and JPY.

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